BCH/USD bulls and bears wrestle around the $400 level - Confluence Detector
05/16/2019, 04:59:53
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BCH/USD enjoyed a bullish Monday like the rest of the crypto market and went up from $355.75 to $387. The price crossed $400, and then the bears ralli

  • BCH/USD went up from $355.75 to $387.
  • Confluence Detector shows lack of strong resistance levels.
  • BCH/USD went up from $355.75 to $387.
  • BCH/USD went up from $355.75 to $387.
  • Confluence Detector shows lack of strong resistance levels.
  • Confluence Detector shows lack of strong resistance levels.

    BCH/USD enjoyed a bullish Monday like the rest of the crypto market and went up from $355.75 to $387. The price crossed $400, and then the bears rallied together and pulled the price down to $387 within 45 mins. However, the overall sentiment remains overtly bullish and the confluence detector shows us that they have a clear path to $425 if they can manage to get past two middling levels of resistance.

    BCH/USDcrypto marketsentiment

    BCH/USD Daily Confluence Detector

    BCH/USD Daily Confluence Detector

    As per the confluence detector, the resistance levels are at $406 and $407.50. The confluences at those levels are:

    • $406: Hourly Bollinger band upper curve, hourly previous high, and 4-hour Bollinger band upper curve.
    • $407.50: 1-Day Pivot point Resistance 2. 
  • $406: Hourly Bollinger band upper curve, hourly previous high, and 4-hour Bollinger band upper curve.
  • $407.50: 1-Day Pivot point Resistance 2. 
  • Support lies at $382 and it has a confluence of Previous day high and daily pivot point resistance 1.